Z Squared Signs LOI to Acquire Skycore, Aiming for 100 MW AI Capacity
Z Squared announced the Phase 1 destination of its strategy which includes a goal of reaching 100 MW of AI-ready capacity available for customer contracts, across multiple U.S. sites over the next 18 months. The 100 MW objective will be pursued through Z Squared's acquire-and-convert engine and converting those sites to AI-ready capacity on a truncated timeline relative to current market standard of, three-to-five-years for a greenfield development. As a first step in achieving its goal of 100 MW in this phase, the company signed a binding letter of intent to acquire Skycore Digital, comprising of three active North Carolina sites powered by Duke Energy. Skycore operates approximately 24 MW of energized capacity currently connected to the grid, plus an additional 18 MW available through existing Duke Energy Letters of Authorization. The company is evaluating a pipeline of additional acquisition targets consistent with its acquire-and-convert strategy. The intended customers for Z Squared's AI-ready capacity are NeoCloud operators and the next wave of AI infrastructure operators deploying production AI compute at scale, specialized cloud operators built for AI workloads.
